Fusion CX IPO: Price Band, Lot Size, Financials & Review
Fusion CX IPO opens on Wed, 14 Oct 2026 and closes on Fri, 16 Oct 2026. The price band is ₹275 – ₹289 with a lot of 51 shares, so one retail lot costs ₹14,739 at the upper band.
Last updated
- Price band
- ₹275 – ₹289
- Lot size
- 51 shares
- Min. investment
- ₹14,739
- Issue size
- ₹702 Cr
Fusion CX IPO details
Fusion CX IPO is a ₹702 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹500 Cr (71.23%) with an offer for sale of ₹202 Cr (28.77%) by existing shareholders. Only the fresh issue money goes to the company.
The issue opens on Wed, 14 Oct 2026 and closes on Fri, 16 Oct 2026. Allotment is expected on Mon, 19 Oct 2026 and listing on Thu, 22 Oct 2026.
The price band is ₹275 to ₹289 per share and the lot size is 51 shares, so the minimum retail application is ₹14,739. Retail investors can apply for up to 13 lots (663 shares, ₹1,91,607).
KFin Technologies Limited is the registrar, and IIFL Capital Services Limited, Motilal Oswal Investment Advisors Ltd and Nuvama Wealth Management Limited are the book running lead managers.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Qualified Institutions | 0 | 75.00% |
| Non-Institutional | 0 | 15.00% |
| Retail Investors | 0 | 10.00% |
Fusion CX IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,739 |
| Retail (Max) | 13 | 663 | ₹1,91,607 |
| S-HNI (Min) | 14 | 714 | ₹2,06,346 |
| S-HNI (Max) | 67 | 3,417 | ₹9,87,513 |
| B-HNI (Min) | 68 | 3,468 | ₹10,02,252 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹500 Cr (71.23%) with an offer for sale of ₹202 Cr (28.77%) by existing shareholders. Only the fresh issue money goes to the company.
P/E is not meaningful here because earnings per share is zero or negative.
Listed peers with positive earnings trade at a median P/E of 21.97x (6 companies).
| EPS (pre-issue) Latest earnings per share before the issue | ₹0 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | — |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 99.28% |
| Promoter holding (post-issue) | 0.00% |
Fusion CX Limited financials
Between 31 Mar 2024 and 30 Jun 2026, revenue fell from ₹1,021.53 Cr to ₹503.85 Cr, and profit after tax rose from ₹36.26 Cr to ₹55.7 Cr. The PAT margin for 30 Jun 2026 was 11.05%.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 |
| Revenue | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 |
| Profit After Tax | 55.70 | 169.84 | 74.31 | 36.26 |
| Net Worth | 24.57 | 26.74 | 16.66 | 11.05 |
| Reserve & Surplus | 607.01 | 547.97 | 345.76 | 258.54 |
| Total Borrowings | 48.06 | 58.73 | 81.93 | 83.10 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 30.29 | 20.74 | 13.37 |
| ROCE % | 71.19 | 49.73 | 19.56 |
| Debt / Equity | 0.30 | 0.73 | 0.69 |
| RoNW % | 30.74 | 20.96 | 13.42 |
| Pat Margin % | 9.34 | 5.59 | 3.66 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Fusion CX Limited | 1 | — | 13.47 | 13.41 | 30.74% | 43.73 |
| FirstSource Solutions Limited | 10 | 22.27 | 9.77 | 9.56 | 15.00% | 61.80 |
| eClerx Services Limited | 10 | 19.65 | 76.23 | 74.42 | 53.00% | 278.00 |
| Alldigi Tech Limited | 10 | 14.12 | 53.96 | 53.96 | 29.00% | 235.00 |
| Inventurus Knowledge Solutions Limited | 1 | 31.41 | 43.12 | 42.26 | 7.58% | 568.00 |
| Sagility India Limited | 10 | 21.66 | 1.98 | 1.98 | 6.47% | 30.50 |
| Hinduja Global Solutions Limited | 10 | 51.07 | 6.92 | 6.92 | 2.00% | 53.00 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
About Fusion CX Limited
Incorporated in 2004, Fusion CX Limited is a customer experience (CX) service provider offering multilingual and omnichannel customer engagement solutions across voice, chat, email, social media and messaging platforms. The company has evolved into a technology-driven, SaaS-enabled CX partner, developing proprietary solutions through its technology subsidiary, Omind Technologies. Its technology portfolio includes conversational AI, marketing AI, quality automation and workforce management, designed to improve customer engagement, operational efficiency and cost optimization. Fusion CX operates through flexible commercial models, including fixed-fee, transaction-based and outcome-based arrangements, catering to the specific requirements of enterprise clients.
The company offers a comprehensive range of services, including customer acquisition, customer service, order fulfilment support, payment and collections, customer retention, technical support and digital solutions. Its services cater to multiple industry verticals, including telecommunications and technology, banking, financial services and insurance (BFSI), healthcare and life sciences, consumer and retail, utilities, travel and high-tech. Through its AI-enabled, omnichannel delivery model, Fusion CX supports businesses across the customer lifecycle, from onboarding and engagement to customer service and retention, combining intelligent automation with human-assisted interactions.
As of December 31, 2024, Fusion CX operated 40 delivery centres across 15 countries, delivering services in 28 languages. Its operations were supported by 10,520 CX professionals and a field workforce of 12,323, primarily serving the telecommunications and utilities sectors. The company has expanded its scale, geographical presence and service capabilities through a combination of organic growth and strategic acquisitions. It was recognised by Frost & Sullivan with the 2025 North American Technology Innovation Leadership Award and was featured in Everest Group reports as a rising star.
As of March 31, 2026, Fusion CX had 13,357 employees engaged in its CX business operations. For Fiscal 2026, the company reported revenue from operations of ₹1,818.14 crore, representing growth of 36.77% over Fiscal 2025. Telecommunications and technology contributed 47.34% of revenue, followed by BFSI at 13.52%, healthcare at 13.14%, consumer and retail at 12.12%, and other segments at 13.88%.
Geographically, the United States and Canada accounted for 85.26% of revenue from operations, while India contributed 11.29%, the United Kingdom and Europe 3.11%, and other markets 0.34%. The company's top five clients contributed 39.55% of revenue, while its top ten clients accounted for 49.66%.
Promoters
- Mr. Pankaj Dhanuka
- Mr. Kishore Sarogi
- P N S Business Private Limited
- Rasish Consultants Private Limited
Objects of the issue
The Company Fusion CX IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by our (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries)
- Investment in our step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, for upgrading IT tools i.e. Arya and MindVoice
- Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Contact details
Fusion CX Ltd.
Plot No. Y9, Block EP & GP,
Sector-5, Bidhan Nagar,
Salt Lake Kolkata, West Bengal, 700091
Phone: 033 4508 6520
Email: secretarial@fusioncx.com
Website: https://www.fusioncx.com/
Fusion CX IPO FAQs
- What is the Fusion CX IPO price band?
- The Fusion CX IPO price band is ₹275 to ₹289 per share.
- What is the Fusion CX IPO lot size and minimum investment?
- The Fusion CX IPO lot size is 51 shares. The minimum retail investment is ₹14,739 for one lot at the upper price band. Retail investors can apply for up to 13 lots (663 shares), costing ₹1,91,607.
- When does Fusion CX IPO open and close?
- Fusion CX IPO opens on Wed, 14 Oct 2026 and closes on Fri, 16 Oct 2026.
- What is the Fusion CX IPO allotment date?
- The Fusion CX IPO basis of allotment is expected on Mon, 19 Oct 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Fusion CX IPO listing date?
- Fusion CX IPO is expected to list on BSE & NSE on Thu, 22 Oct 2026.
- Is the Fusion CX IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹500 Cr (71.23%) with an offer for sale of ₹202 Cr (28.77%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Fusion CX IPO?
- The registrar for the Fusion CX IPO is KFin Technologies Limited, and the book running lead managers are IIFL Capital Services Limited, Motilal Oswal Investment Advisors Ltd and Nuvama Wealth Management Limited.
- How to apply for the Fusion CX IPO?
- Apply through your broker app or net banking using UPI or ASBA. Select the IPO, enter the number of lots and your bid (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on Fri, 16 Oct 2026.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.